Efficiency of selected risk management instruments: an empirical analysis of risk reduction in Kazakhstani crop production
Gespeichert in:
1. Verfasser: | |
---|---|
Format: | Abschlussarbeit Buch |
Sprache: | English |
Veröffentlicht: |
Halle (Saale)
IAMO
2007
|
Schriftenreihe: | Studies on the agricultural and food sector in Central and Eastern Europe
40 |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | Zsfassung in dt. Sprache |
Beschreibung: | 174, XLIX S. graph. Darst., Kt. |
ISBN: | 393858419X |
Internformat
MARC
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245 | 1 | 0 | |a Efficiency of selected risk management instruments |b an empirical analysis of risk reduction in Kazakhstani crop production |c by Olaf Heidelbach |
264 | 1 | |a Halle (Saale) |b IAMO |c 2007 | |
300 | |a 174, XLIX S. |b graph. Darst., Kt. | ||
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502 | |a Zugl.: Halle, Univ., Diss., 2007 | ||
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650 | 4 | |a Agriculture |z Kazakhstan | |
650 | 4 | |a Crop insurance |z Kazakhstan | |
650 | 4 | |a Risk management |z Kazakhstan | |
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Datensatz im Suchindex
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---|---|
adam_text |
Table
of
contents
Acknowledgements
.
I
Summary
.
Ill
Zusammenfassung.
VI
List of figures
. XII
List of tables
.XIV
1
Introduction
. 1
1.1
The role of agricultural income stabilisation in the transition process
. 1
1.2
Motivation and focus of the study
. 3
1.3
Chapter organization
. 4
2
Analytical framework of risk and risk management analysis in
agricultural production
. 5
2.1
Risk sources and effects in agriculture
. 5
2.2
Management of production risk in agriculture
. 7
2.2.1
On-farm strategies
. 7
2.2.1.1
Selecting less risky technologies
. 7
2.2.1.2
Diversification
.:. 8
2.2.2
Risk sharing
. 9
2.2.2.1
Marketing responses
. 9
2.2.2.2
Credit
. 10
2.2.3
Insurance
. 10
2.2.3.1
Comparison of crop insurance products with regard to their applicability
in a transition economy
. 14
2.2.3.2
New developments
. 18
2.2.3.3
Insurance in the light of WTO negotiations
. 19
2.2.4
Political considerations
. 19
2.3
Obstacles to effective insurance market development
. 21
2.3.1
Asymmetric information in insurance markets
. 21
2.3.1.1
Accounting for moral hazard
. 22
Table of
contents
2.3.1.2
Adverse
selection.
24
2.3.2
Systemic risk
. 25
2.4
Analysis of decision-making under uncertainty
-
Basic approaches
. 26
2.4.1
The Expected Utility Model and its axiomatic foundation
. 26
2.4.2
Alternatives to the Expected Utility Model
. 28
2.4.3
The importance of accounting for risk aversion
. 29
2.4.4
Methods for risk analysis at the enterprise level
. 32
2.4.4.1
Mean-variance analysis
. 32
2.4.4.2
Risk programming
. 33
2.4.4.3
Stochastic efficiency analysis
. 34
2.4.4.4
Sensitivity analysis
. 38
3
Development of the agricultural sector during transition
and the role of risk management in Kazakhstan
. 39
3.1
Economic situation in Kazakhstan
. 39
3.2
Development of the agricultural sector before and during transition
. 40
3.2.1
Productivity trends
. 44
3.2.2
Capital endowment, collateral, and investments
. 46
3.2.3
Farm restructuring
. 48
3.2.4
Agricultural policy
. 50
3.3
Natural conditions
. 50
3.4
Description of research regions
. 56
3.5
Available and potential risk management instruments
. 66
3.5.1
On-farm risk management instruments
. 66
3.5.1.1
Technological instruments
. 66
3.5.1.2
Diversification
. 68
3.5.2
Financial risk management measures
. 69
3.5.2.1
Own capital
. 70
3.5.2.2
Credit
. 71
3.5.2.3
Crop insurance
. 72
3.5.2.4
Government measures
. 79
4
Empirical analysis of risk management instruments
. 80
4.1
Research design and objectives
. 80
4.2
Research conditions and data quality
. 81
4.2.1
Field work
. 82
4.2.2
A critical discussion of the data quality
. 83
4.3
Data description
. 86
4.3.1
Sampling
. 86
4.3.2
Survey data
. 87
4.3.3
The farm survey questionnaire
. 88
Table of
contents
_
Л7
4.4
Analysis of survey data
. 88
4.4.1
Results of the workshops with stakeholders and expert interviews
. 88
4.4.2
Farm survey results
. 90
4.4.2.1
Key characteristics of respondents and farms
. 90
4.4.2.2
Attitude towards crop insurance products
. 91
4.4.2.3
Price risk
. 94
4.4.2.4
Regional weather conditions and natural hazards
. 101
4.4.2.5
Farmers' risk attitudes
. 102
4.4.2.6
Perception of risk sources, consequences, and management responses
. 104
4.4.2.7
Risk management instruments and technology adoption
. 105
4.4.2.8
Factors influencing the demand for crop insurance
. 106
4.4.3
Evaluation of the farm survey
. 108
4.5
Empirical analysis of different risk management instruments
. 109
4.5.1
Characterisation of study farms and their risk management
. 110
4.5.2
Model specification and behavioural assumptions
. 116
4.5.2.1
Riskaversion
. 117
4.5.2.2
Scenarios
. 118
4.5.2.3
Integrating expert knowledge
. 119
4.5.2.4
Integrating
riskmanagement
instruments
. 122
4.5.3
Model results and discussion
. 126
4.5.3.1
Income and utility effects of variation in risk aversion
. 126
4.5.3.2
Effects on input use
. 129
4.5.3.3
Detailed analysis of study farms
. 130
4.5.4
Utility-efficient programming versus analysis of variance reduction
by means of SSD and
MV
approach
. 143
4.5.5
Moral hazard effects
. 146
5
Summary of findings and conclusions
. 151
5.1
Synthesizing lessons from the empirical findings
. 151
5.1.1
Lessons from farm survey results
. 151
5.1.2
Lessons from model findings
. 152
5.1.3
Implications for current theory and further research
. 153
5.2
Implications for policy design
. 155
5.2.1
Lessons from the analysis of the current crop insurance system
. 155
5.2.2
Evaluation of alternative policy measures
. 156
References
. 159
Appendix
. 175 |
adam_txt |
Table
of
contents
Acknowledgements
.
I
Summary
.
Ill
Zusammenfassung.
VI
List of figures
. XII
List of tables
.XIV
1
Introduction
. 1
1.1
The role of agricultural income stabilisation in the transition process
. 1
1.2
Motivation and focus of the study
. 3
1.3
Chapter organization
. 4
2
Analytical framework of risk and risk management analysis in
agricultural production
. 5
2.1
Risk sources and effects in agriculture
. 5
2.2
Management of production risk in agriculture
. 7
2.2.1
On-farm strategies
. 7
2.2.1.1
Selecting less risky technologies
. 7
2.2.1.2
Diversification
.:. 8
2.2.2
Risk sharing
. 9
2.2.2.1
Marketing responses
. 9
2.2.2.2
Credit
. 10
2.2.3
Insurance
. 10
2.2.3.1
Comparison of crop insurance products with regard to their applicability
in a transition economy
. 14
2.2.3.2
New developments
. 18
2.2.3.3
Insurance in the light of WTO negotiations
. 19
2.2.4
Political considerations
. 19
2.3
Obstacles to effective insurance market development
. 21
2.3.1
Asymmetric information in insurance markets
. 21
2.3.1.1
Accounting for moral hazard
. 22
Table of
contents
2.3.1.2
Adverse
selection.
24
2.3.2
Systemic risk
. 25
2.4
Analysis of decision-making under uncertainty
-
Basic approaches
. 26
2.4.1
The Expected Utility Model and its axiomatic foundation
. 26
2.4.2
Alternatives to the Expected Utility Model
. 28
2.4.3
The importance of accounting for risk aversion
. 29
2.4.4
Methods for risk analysis at the enterprise level
. 32
2.4.4.1
Mean-variance analysis
. 32
2.4.4.2
Risk programming
. 33
2.4.4.3
Stochastic efficiency analysis
. 34
2.4.4.4
Sensitivity analysis
. 38
3
Development of the agricultural sector during transition
and the role of risk management in Kazakhstan
. 39
3.1
Economic situation in Kazakhstan
. 39
3.2
Development of the agricultural sector before and during transition
. 40
3.2.1
Productivity trends
. 44
3.2.2
Capital endowment, collateral, and investments
. 46
3.2.3
Farm restructuring
. 48
3.2.4
Agricultural policy
. 50
3.3
Natural conditions
. 50
3.4
Description of research regions
. 56
3.5
Available and potential risk management instruments
. 66
3.5.1
On-farm risk management instruments
. 66
3.5.1.1
Technological instruments
. 66
3.5.1.2
Diversification
. 68
3.5.2
Financial risk management measures
. 69
3.5.2.1
Own capital
. 70
3.5.2.2
Credit
. 71
3.5.2.3
Crop insurance
. 72
3.5.2.4
Government measures
. 79
4
Empirical analysis of risk management instruments
. 80
4.1
Research design and objectives
. 80
4.2
Research conditions and data quality
. 81
4.2.1
Field work
. 82
4.2.2
A critical discussion of the data quality
. 83
4.3
Data description
. 86
4.3.1
Sampling
. 86
4.3.2
Survey data
. 87
4.3.3
The farm survey questionnaire
. 88
Table of
contents
_
Л7
4.4
Analysis of survey data
. 88
4.4.1
Results of the workshops with stakeholders and expert interviews
. 88
4.4.2
Farm survey results
. 90
4.4.2.1
Key characteristics of respondents and farms
. 90
4.4.2.2
Attitude towards crop insurance products
. 91
4.4.2.3
Price risk
. 94
4.4.2.4
Regional weather conditions and natural hazards
. 101
4.4.2.5
Farmers' risk attitudes
. 102
4.4.2.6
Perception of risk sources, consequences, and management responses
. 104
4.4.2.7
Risk management instruments and technology adoption
. 105
4.4.2.8
Factors influencing the demand for crop insurance
. 106
4.4.3
Evaluation of the farm survey
. 108
4.5
Empirical analysis of different risk management instruments
. 109
4.5.1
Characterisation of study farms and their risk management
. 110
4.5.2
Model specification and behavioural assumptions
. 116
4.5.2.1
Riskaversion
. 117
4.5.2.2
Scenarios
. 118
4.5.2.3
Integrating expert knowledge
. 119
4.5.2.4
Integrating
riskmanagement
instruments
. 122
4.5.3
Model results and discussion
. 126
4.5.3.1
Income and utility effects of variation in risk aversion
. 126
4.5.3.2
Effects on input use
. 129
4.5.3.3
Detailed analysis of study farms
. 130
4.5.4
Utility-efficient programming versus analysis of variance reduction
by means of SSD and
MV
approach
. 143
4.5.5
Moral hazard effects
. 146
5
Summary of findings and conclusions
. 151
5.1
Synthesizing lessons from the empirical findings
. 151
5.1.1
Lessons from farm survey results
. 151
5.1.2
Lessons from model findings
. 152
5.1.3
Implications for current theory and further research
. 153
5.2
Implications for policy design
. 155
5.2.1
Lessons from the analysis of the current crop insurance system
. 155
5.2.2
Evaluation of alternative policy measures
. 156
References
. 159
Appendix
. 175 |
any_adam_object | 1 |
any_adam_object_boolean | 1 |
author | Heidelbach, Olaf |
author_facet | Heidelbach, Olaf |
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author_sort | Heidelbach, Olaf |
author_variant | o h oh |
building | Verbundindex |
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dewey-hundreds | 300 - Social sciences |
dewey-ones | 338 - Production |
dewey-raw | 338.176331095845 |
dewey-search | 338.176331095845 |
dewey-sort | 3338.176331095845 |
dewey-tens | 330 - Economics |
discipline | Agrarwissenschaft Agrar-/Forst-/Ernährungs-/Haushaltswissenschaft / Gartenbau Wirtschaftswissenschaften |
discipline_str_mv | Agrarwissenschaft Agrar-/Forst-/Ernährungs-/Haushaltswissenschaft / Gartenbau Wirtschaftswissenschaften |
format | Thesis Book |
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index_date | 2024-07-02T19:46:31Z |
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owner | DE-1029 DE-M49 DE-BY-TUM DE-12 DE-521 DE-11 |
owner_facet | DE-1029 DE-M49 DE-BY-TUM DE-12 DE-521 DE-11 |
physical | 174, XLIX S. graph. Darst., Kt. |
publishDate | 2007 |
publishDateSearch | 2007 |
publishDateSort | 2007 |
publisher | IAMO |
record_format | marc |
series | Studies on the agricultural and food sector in Central and Eastern Europe |
series2 | Studies on the agricultural and food sector in Central and Eastern Europe |
spelling | Heidelbach, Olaf Verfasser aut Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production by Olaf Heidelbach Halle (Saale) IAMO 2007 174, XLIX S. graph. Darst., Kt. txt rdacontent n rdamedia nc rdacarrier Studies on the agricultural and food sector in Central and Eastern Europe 40 Zsfassung in dt. Sprache Zugl.: Halle, Univ., Diss., 2007 Landwirtschaft Agriculture Kazakhstan Crop insurance Kazakhstan Risk management Kazakhstan Pflanzenproduktion (DE-588)4251085-5 gnd rswk-swf Risikomanagement (DE-588)4121590-4 gnd rswk-swf Kasachstan (DE-588)4029839-5 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Kasachstan (DE-588)4029839-5 g Pflanzenproduktion (DE-588)4251085-5 s Risikomanagement (DE-588)4121590-4 s b DE-604 Studies on the agricultural and food sector in Central and Eastern Europe 40 (DE-604)BV012285896 40 Digitalisierung BSBMuenchen application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016308268&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Heidelbach, Olaf Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production Studies on the agricultural and food sector in Central and Eastern Europe Landwirtschaft Agriculture Kazakhstan Crop insurance Kazakhstan Risk management Kazakhstan Pflanzenproduktion (DE-588)4251085-5 gnd Risikomanagement (DE-588)4121590-4 gnd |
subject_GND | (DE-588)4251085-5 (DE-588)4121590-4 (DE-588)4029839-5 (DE-588)4113937-9 |
title | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production |
title_auth | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production |
title_exact_search | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production |
title_exact_search_txtP | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production |
title_full | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production by Olaf Heidelbach |
title_fullStr | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production by Olaf Heidelbach |
title_full_unstemmed | Efficiency of selected risk management instruments an empirical analysis of risk reduction in Kazakhstani crop production by Olaf Heidelbach |
title_short | Efficiency of selected risk management instruments |
title_sort | efficiency of selected risk management instruments an empirical analysis of risk reduction in kazakhstani crop production |
title_sub | an empirical analysis of risk reduction in Kazakhstani crop production |
topic | Landwirtschaft Agriculture Kazakhstan Crop insurance Kazakhstan Risk management Kazakhstan Pflanzenproduktion (DE-588)4251085-5 gnd Risikomanagement (DE-588)4121590-4 gnd |
topic_facet | Landwirtschaft Agriculture Kazakhstan Crop insurance Kazakhstan Risk management Kazakhstan Pflanzenproduktion Risikomanagement Kasachstan Hochschulschrift |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016308268&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
volume_link | (DE-604)BV012285896 |
work_keys_str_mv | AT heidelbacholaf efficiencyofselectedriskmanagementinstrumentsanempiricalanalysisofriskreductioninkazakhstanicropproduction |